https://newsletter.mw.creamermedia.com
Copper|Gold|Mining|PROJECT|Underground|Operations
Copper|Gold|Mining|PROJECT|Underground|Operations
copper|gold|mining|project|underground|operations

Evolution Mining posts higher gold output, shares hit record high

Mungari mill

Mungari mill

21st January 2026

By: Reuters

  

Font size: - +

Australia's Evolution Mining reported a rise in its second-quarter gold production on Wednesday, driven by strong performances across almost all assets, sending its shares to a record high.

Shares of the company, majority owned by AustralianSuper - the country's largest pension fund, rose as much as 9.18% to a record A$14.750, posting their biggest intraday percentage gain since August 14, 2024.

The gold miner produced 191 000 oz of gold in the final quarter of last year, compared with 174 000 oz in the previous quarter.

Evolution attributed the output rise to strong operational performance at its Cowal project in New South Wales. The open-pit mine produced 80 000 oz of gold in the December quarter, compared with 71 000 oz in the previous quarter.

Underground operations at Cowal remained smooth as the mine delivered higher-quality gold. Evolution is the sole owner of the mine, which has a mine life until 2042.

Analysts at Jefferies said Cowal's production was broadly in line with Visible Alpha estimates.

The underground mining hub of Mungari in Western Australia logged record quarterly output of 50 000 oz in its fourth straight quarter of production growth.

The group achieved a quarterly gold price of A$6 206 per ounce, higher than the previous quarter, due to a historic rally in global bullion prices.

"While in line with consensus, 2Q gold production exceeded our expectations," Jefferies said in a note, adding that record gold prices boosted Evolution's balance sheet.

Sydney-headquartered Evolution reaffirmed its fiscal 2026 group production forecast of 710 000 oz to 780 000 oz for gold and 70 000 to 80 000 metric tons for copper.

The company produced 18 000 tons of copper in the December quarter, unchanged from the previous three-month period.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 
Astore Keymak
Astore Keymak

Astore Keymak is one of South Africa’s leading suppliers of high-quality Thermoplastic Pipeline Systems, with branches in the major provinces.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (16/01/2026)
16th January 2026 By: Martin Creamer
Magazine round up | 16 January 2026
Magazine round up | 16 January 2026
16th January 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.149 0.239s - 128pq - 2rq
Subscribe Now